Spotify Co-Founder Martin Lorentzon Brought Music to the Masses, Made Billions
Martin Lorentzon is one of the two co-founders of audio streaming service Spotify. Here are all the details on his career and net worth.
Oct. 21 2022, Published 9:47 a.m. ET
Recently, Martin Lorentzon and his entrepreneurial success have made it to the small screen, thanks to a new Netflix docuseries about the founding of Spotify titled The Playlist.
With Spotify co-founder Daniel Ek, Lorentzon has brought streaming music to the masses and made billions.
Lorentzon’s wealth has dropped significantly since last year, according to Forbes, but he’s still doing just fine as one of the world’s richest people.
He has also received awards such as the International Swede of the Year in 2014, Business Achievement from a Swedish newspaper in 2015, and an honorary doctorate from his alma mater, the Chalmers University of Technology.
So, how much is Lorentzon worth today?
Martin Lorentzon owes his vast net worth to Spotify.
Lorentzon co-founded Spotify in 2006 (launching in 2008) with his friend Daniel Ek, who still runs the company as its chief executive today. Like Lorentzon, Ek is a billionaire thanks to the streaming company’s success.
When the pair launched Spotify, Lorentzon initially served as its CEO and stayed in the role until 2013. At that time, Ek took over as CEO, though not due to a falling out, as the two say they’re still close friends.
Martin Lorentzon
Entrepreneur, Co-Founder of Spotify
Net worth: $2.1 billion
Martin Lorentzon is a Swedish entrepreneur who co-founded the music and audio streaming service Spotify with Daniel Ek. He was the CEO until 2013 and then chairman of the board from 2008 until 2016. The company he started is now the top audio streaming subscription service worldwide. Spotify says it currently has 188 million subscribers and 433 million users.
Birthdate: April 1, 1969
Birthplace: Sweden
Education: Chalmers University of Technology (Master of Science and Engineering)
Like leaders of other tech companies, Ek has faced criticism for not removing false or misleading content. For instance, he didn't immediately remove Joe Rogan’s Spotify podcast after he promoted false information related to COVID-19 and vaccines.
Before starting Spotify, Lorentzon also co-founded Tradedoubler with Felix Hagno in 1999.
Lorentzon’s net worth is over $1 billion, but estimates vary.
Lorentzon is still a billionaire — don’t worry — although as Forbes notes, his net worth has dropped from about $6 billion in 2021 to its current estimate of $2.1 billion in 2022. That real-time net worth puts him at #1329 globally today.
Other sources tell different accounts of his wealth: Celebrity Net Worth estimates Lorentzon’s net worth at $3.5 billion.
Forbes stated that Lorentzon owns 12 percent of Spotify shares yet holds 43 percent of voting control of the company due to a dual-class share system for the company.
Lorentzon began serving on Prince Daniel’s Fellowship in 2013. In Sweden, that role meant visiting universities and secondary schools to encourage young people to pursue entrepreneurship.
A series about the founding of Spotify is now available on Netflix if you want to learn more about Lorentzon!
Christian Hillborg as Martin Lorentzon in 'The Playlist.'
The Playlist is the new fictionalized docuseries centered around the founding of Spotify.
The six-episode limited Netflix series explores the earliest days of the company, especially as Ek and Lorentzon worked together to revolutionize the music industry.